“AUSTRALIA could drop its ban on uranium sales to India after an international expert panel called for a fresh approach to restricting the world’s nuclear arsenal.”
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Bannerman resources an Nambia Uranium explorer is starting to look very undervalued. It currently has a JORC of 160m pounds and is valued at ~1/10th of uranium in the ground / market cap as compared to EXT. But looking at their latest drilling results it seems more than likely that they rae going to have a JORC = to EXTs or possibly even bigger.
The latest report has a diagram of their projects that indicates a strike length of approximately 10km and up to 3 km wide in places. The grades seem to be good ranging from 3,000ppm to 170ppm and are near surface. BMN is turning into a monster.
Despite the obvious long-term imbalance and the consequent reduction in stockpiles, world uranium prices have not risen until the last few years. Low prices were due to the presence of a large world uranium stockpile, the use of uranium from the states of the former Soviet Union and the uncertainty of the outcome of political decisions concerning the use of military stockpiles and the de-commissioning of old warheads. Other factors included a low growth rate in world nuclear generating capacity and an expansion in global mine production. The peak in prices in 2007–08 was due to strong demand coinciding with concerns about the availability of future supply.
The paper has quite a few links that are worth following.
A very interesting article on the need for increased supplies for uranium was published in today’s The Australian.
In it the authors systematically debunk the 5 most common objections to the increased use of nuclear power for base load emission free electricity.
One of the more interesting comments was directed at the need for for more uranium supplies and the effect fast nuclear reactors will have.
” Newer fast reactors are able to use almost all of the energy in uranium. There is enough energy in already mined uranium and stored plutonium from existing stockpiles to supply all the world’s power needs for more than three centuries before we need to mine any more uranium.
Fast reactors can be used to burn all existing reserves of plutonium and the nuclear waste from the past and present generation of thermal reactors. With additional uranium mining, there is enough energy in proven deposits to supply the entire world for many thousands of years.”
I wonder if this is why the Global Uranium Fund and the Uranium Options have been declining over the last few months.
This link takes you to MarketClubs free trend analysis for Uranium. I think it is a journey that will be worthwhile for those investing in uranium.